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A consortium is an association of two or more individuals, companies, organizations or governments (or any combination of these entities) with the objective of participating in a common activity or pooling their resources for achieving a common goal. A professional body or professional organization also known as a professional association or professional society is an organization usually Non-profit, that exists

Consortium is a Latin word, meaning 'partnership, association or society' and derives from consors 'partner', itself from con- 'together' and sors 'fate', meaning owner of means or comrade. Latin ( lingua Latīna, laˈtiːna is an Italic language, historically spoken in Latium and Ancient Rome.

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Economics

Each participant retains its separate legal status and the consortium's control over each participant is generally limited to activities involving the joint endeavor, particularly the division of profits. A consortium is formed by contract, which delineates the rights and obligations of each member. A contract is an exchange of promises between two or more parties to do or refrain from doing an act which is enforceable in a court of law Consortia are more common in the nonprofit sector. A non-profit organization ( abbreviated "NPO" also "not-for-profit" is a legally constituted Organization whose objective is to support or engage A more permanent joint activity is usually called an institute. An institute is a permanent Organizational body created for a certain purpose

Examples

For example, Five Colleges, Inc. is one of the oldest and most successful consortia in the United States. The Five Colleges comprises four liberal arts colleges and one University in the Connecticut River Pioneer Valley of Western Massachusetts The United States of America —commonly referred to as the The participants in Five Colleges, Inc. are: Amherst College, Hampshire College, Mount Holyoke College, Smith College, and the University of Massachusetts at Amherst. Amherst College is a private liberal arts college in Amherst, Massachusetts, USA. Hampshire College is a private liberal arts college located in Amherst, Massachusetts. Mount Holyoke College is a liberal arts women's college in South Hadley, Massachusetts. Smith College is a private, independent women's liberal arts college located in Northampton Massachusetts. The University of Massachusetts Amherst (otherwise known as UMass Amherst, Massachusetts, or UMass) is a research and Land-grant university in Another example of a successful consortium is the Five Colleges of Ohio of Ohio: Oberlin College, Ohio Wesleyan University, Kenyon College, College of Wooster and Denison University. Members The members are Oberlin College, Oberlin Ohio Kenyon College, Gambier Ohio Ohio Oberlin College is a private Liberal arts college in Oberlin Ohio. Kenyon College is a private liberal arts college in Gambier Ohio, founded in 1824 by Bishop Philander Chase of the The Episcopal Church Denison University is a private residential liberal arts and Sciences College in Granville Ohio, approximately 30 miles (50 km east of These consortia have pooled the resources of their member colleges and the university to share human and material assets as well as to link academic and administrative resources.

An example of a for-profit consortium was Airbus Industrie ("Airbus"). Airbus SAS (ˈɛərbʌs in English, Airbus2ogg|/ɛʁbys/]] in French, and /ˈɛːɐbʊs/ in German) is an aircraft manufacturing Formed in 1970, Airbus is one of the world's premier manufacturers of civilian airliners. Airbus is now owned by EADS. The European Aeronautic Defence and Space Company EADS NV ( EADS) is a large European aerospace corporation formed by the merger on July 10, EADS itself is a merger of Aérospatiale-Matra of France, Daimler-Chrysler Aerospace of Germany, and Construcciones Aeronáuticas of Spain, which were originally separate partners in the consortium, owning 37. Aérospatiale-Matra was a European Missile and Aircraft manufacturer. This article is about the country For a topic outline on this subject see List of basic France topics. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. Spain () or the Kingdom of Spain (Reino de España is a country located mostly in southwestern Europe on the Iberian Peninsula. 9%, 37. 9%, and 4. 2%, respectively. BAE Systems owned the remaining 20% but sold this in 2006. Airbus' status as a consortium means that profits accrue to the partner companies representative to their interests. Work is allocated on the same basis as profits.

Another example of a for-profit consortium is when a group of banks collaborate to give a loan. This is more commonly known as a syndicated loan. A syndicated loan (or "syndicated bank facility" is a large Loan in which a group of banks provide funds for a borrower usually several but without joint liability In England it is common for a consortium to buy out financially struggling football clubs in order to keep them out of liquidation.

Famous consortia

See also

Sources and external links

Dictionary

consortium

-noun

  1. An association or combination of businesses, financial institutions, or investors, for the purpose of engaging in a joint venture
  2. A similar arrangement among non-commercial institutions or organizations
  3. An association or society
  4. (law) The right of a spouse to all the normal relationships with his or her mate
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